Rolls-Royce has launched its India Open Innovation programme (IOiN-RR) which is designed to help identify to buy or license technologies or techniques outside Rolls-Royce's traditional areas of operation that are new and potentially beneficial to Rolls-Royce. IOiN-RR also provides Indian organisations with the opportunity to leverage their solutions globally.
The company had launched a similar program in Japan last year and India happens to be second in line. The company will be looking to introduce such a program in other countries as well, in the years to come. However, there is no clear time frame, defined by the company.
It believes there is a lot of innovation happening in India and looks to tap in to it, in the form of a mutual benefit co-ordination with the participating companies.
The challenges will focus on three critical areas:
1. Test and measurement;
2. Repair, inspection and servicing technologies; and
3. Novel designs and manufacture of large components and tools.
Paul Stein, Chief Scientific Officer at Rolls-Royce explains, "Through this programme, we are seeking to identify technologies or techniques in industries outside of which Rolls-Royce usually operates, and in small and medium sized companies Rolls-Royce does not currently work with."
Kishore Jayaraman, President, Rolls-Royce India said "India is home to some of the world's most innovative small and medium sized companies. We are looking to tap into that depth of expertise and knowledge to discover new solutions that can help us advance our own products, processes and services. Rolls-Royce has an 80-year history of strong and successful partnerships and collaborations in India, and we hope to establish more partnerships of mutual benefit through this initiative."
Organizations that have been in existence for minimum two years are eligible to apply. The solutions submitted by the participants should be beyond concept stage and should lie between a successful prototype and ready for industry stage. Organisations should register their initial interest via email to FICCI (IOiN-RR@ficci.com) or NASSCOM (email@example.com). After an initial screening, shortlisted applicants will be invited to register online and submit a detailed proposal.
Jayaraman adds, if the solution provided by a participating company is deemed beneficial and implementable, then Rolls-Royce will be looking forward into establishing relationship with the participating company which can can range from an acquisition to collaboration. However, there is no fixed format to this and is solely in discretion between Rolls-Royce and the participating company.